AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

AceTraderFx Dec 28: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 Dec 2021 09:30GMT

USD/JPY - 114.80
Dollar's resumption of recent upmove to a 4-week high of 114.94 today due to broad-based yen selling on continued risk-on sentiment suggests early correction from Nov's 3-year peak at 115.51 has ended, however, loss of upward momentum would limit upside to 115.15/20 and risk has increased for a minor retracement later this week.

Only a daily close below 114.51 (last week's top, now sup) suggests temporary high is in place and may yield weakness to 114.31/32 before rebound.

U.S. will later release redbook retail sales, monthly home price n Richmond Fed mfg index. Market focus is on U.S. stocks as Monday's rise in the S&P 500 to an all time high boosted risk appetite n triggered broad-based usd and yen selling.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Dec 29: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 29 Dec 2021 09:30GMT

USD/JPY - 1114.98
Although dollar's present break of Tue's fresh 1-month top at 114.94 suggests early correction from Nov's 3-year peak at 115.51 has ended and recent cross-inspired upmove would yield marginal gain, loss of near term upward momentum should cap price below 115.51 and risk has increased for a minor retracement to take place later this week.

On the downside, only a daily close below 114.72 (Tue low) signals temporary top is in place, risks weakness to 114.51, then towards 114.31.

On the data front, U.S. will release a slew of second-tier economic data, please refer to our EI page for details.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Dec 30: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 30 Dec 2021 09:30GMT

USD/JPY - 115.16
Despite dollar's brief retreat to 114.68 in New York Wed on usd's broad-based weakness, subsequent strong rebound on cross-selling in yen and present firm break of Wed's fresh 1-month high at 115.03 to 115.20 suggests recent upmove would extend toward 115.51 but next projected target at 115.93 may hold.

On the downside, only below 114.51 may signal temporary top is in place and risk weakness towards 114.31, then 114.08/10.

Data to be released on Thursday :
U.K. Nationwide house price, Swiss KOF indicator. U.S. initial jobless claims, continuing jobless claims and Chicago PMI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Jan 03: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: : 03 Jan2022 09:30GMT

USD/JPY - 115.29
Although dollar's rise to a fresh 1-month high of 115.20 in Europe on Thursday suggests recent upmove remains in force gain towards Nov's fresh 3-year peak at 115.51 may be seen, consolidation is in store before another rise but a firm break there is needed to head to next projected target at 115.93 next week.

On the downside, only a daily close below 114.68 indicates a temporary top is in place and risks stronger retracement towards 114.51, break, 114.31/32.

On the data front, U.S. will later release Markit mfg PMI and then construction spending.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Jan 04: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: : 04 Jan2022 09:30GMT

USD/JPY - 115.78
The greenback's intra-day rally on broad-based selling in jpy and break above November's 3-year peak at 115.51 signals Medium Term uptrend has once again resumed and consolidation with upside bias remains for further gain to 116.20/30, however, overbought condition would keep price below 116.50/60 and bring a much-needed correction later this week.

On the downside, only below 114.96 would indicate a temporary top has been made and risk stronger retracement to 114.60/70.

On the data front, U.S. will later release redbook sales, ISM mfg index n JOLTS job openings.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Jan 05: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jan 2022 09:10GMT

USD/JPY - 115.97
Although dollar's retreat after yesterday's rally to a 5-year top at 116.34 on broad-based yen selling signals recent upmove has made a temporary top there and consolidation is in store, as long as 115.81 holds, upside bias remains for gain towards 116.70 but overbought condition would keep price below 116.86 and bring a much-needed correction later this week.

On the downside, only below 115.81 would indicate a temporary top has been made and risk stronger retracement twd 115.51.

U.S. will release MBA mortgage applications, ADP private payrolls n Markit services PMI, then later, FOMC minutes.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Jan 06: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jan2022 09:30GMT

USD/JPY - 115.87
Although dollar's retreat after Tuesday's rally to a 5-year top at 116.34 on broad-based yen selling signals range trading would be in store before MT uptrend resumes and above 116.34 would head towards daily objective at 116.50, reckon loss of momentum would keep price below 116.80/90 and bring a much-needed correction later.

On the downside, only a daily close below 115.51 would indicate a temporary top has been made and risk stronger retracement to 115.20/25.

Data to be released on Thursday :
Australia Services PMI, Japan Services PMI, China Caixin services PMI.
Germany industrial orders CPI, U.K. Markit Services PMI, EU producer prices, Italy Market Holiday.
U.S. international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, durables ex-defense, durable goods, factory orders, durables ex-transport, ISM non-manufacturing PMI, Canada trade balance, exports and imports.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Jan 07: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan 2022 09:30GMT

USD/JPY - 115.91
Dollar's retreat from Tuesday's 5-year peak at 116.34
and subsequent volatile swings on cross-buying in yen yesterday signals range trading would be in store before MT uptrend resumes and above 116.34 would head towards daily objective at 116.50, reckon loss of momentum would keep price below 116.80/90 and bring a much-needed correction later.

On the downside, only a daily close below 115.51 would indicate a temporary top has been made and risk stronger retracement to 115.20/25.

Data to be released on Friday:
Japan all household spending, Tokyo core CPI.
Swiss unemployment rate, retail sales, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, exports, imports, trade balance, current account, France consumer spending, current account, industrial output, trade balance, imports, exports, EU HICP, retail sales, business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. non-farm payrolls private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Jan 10: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan 2022 09:30GMT

USD/JPY - 115.72
Despite dollar's daily sideways swings after retreat from Tue's near 5-year peak of 116.34 to 115.63 (Wed), Friday's break of 115.63 to 115.52 in post-NFP trading in New York on broad-based usd's weakness suggests a temporary top is in place and below 115.51 would bring stronger retracement to 115.20/25.

On the upside, only a daily close above 116.04 would yield stronger gain to 116.30/34, break, 116.50 later.

U.S. eco. calendar is pretty thin with 2nd-tier wholesale inventories n wholesale sales being the only data due out.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Jan 11: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan2022 09:30GMT

USD/JPY - 115.30
Although dollar's break of 115.52 (Friday) to as low as 115.05 in New York yesterday on cross-buying in yen signals recent erratic upmove has made a temporary top at last Tue's near 5-year peak at 116.34, however, reckon 114.75/80 would contain downside and yield rebound due to oversold condition, above 115.52 yields further gain to 115.80/84.

On the downside, only a daily close below 114.96 risks stronger retracement towards 114.68, then to 114.44/48 later.

U.S. will later release MBA mortgage applications n redbook sales.
We also have Kansas City Fed President George (voter) speaking on the economic and monetary policy outlook at an in-person event at 14:30GMT.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update